Daily answer writing assignment

Answer Writing Assignment(03-06-2020)

note: submit your answer in the comment box given below

How would recent phenomenon of protectionism and currency manipulations in world trade affect macroeconomic stability of India?  (150 Words)

9 Comments

  • Protectionism refers to the policy and measures taken by a Government in respect of trade. Whereas currency manipulations mean the determination of value of currency with other country’s currency.
    Balance of Payment and Balance of Trade are crucial to a Government in determining its foreign currency resources availability for strengthening its currency value. When the above two parameters are in positive, the macroeconomic stability of the country is very much promising to development. It simply means a state where export of goods and services are higher than imports.
    In the backdrop of COVID-19, the relevancy of protectionism and currency manipulations in many countries are going to be a vouge. Now, India is reluctant to import Chinese goods. America also barred much of their imports recently.

    Due to curtailment of importation, the cheapest availability of goods especially electronic and toys are affected badly. The small, medium scale businesses dealing in such goods are vanishing and are thrown out of trade scenario.

    As the purchasing power of the people are also affected, eventually it has a hit on trade also.

    The willowing and wallowing of currency value shall also affect international money markets. Most of the hedging element shall be affected. Thereby the stability of the business and stock exchanges will be ruined.

    Thus, it is concluded that unnecessary protectionism and currency manipulations shall negatively affect the macroeconomic stability of every countries especially India which is depended upon imports and stability of currency value. However on the contrary there will be a sprout of indigenous industries with low cost products and services as envisaged in ‘Atma Nirbhar Baharat’.

    03062020

    • * Good Introduction.

      * It would be better if you arrange the answer under separate sub headings. Otherwise, your answer will become too vague.

      * For eg: In the Main body, you can write the answer under the sub headings ‘Impact of Protectionism on Macro Economic Stability of India’ and ‘Impact of Currency Manipulation on Macro Economic Stability of India’. Here, the examiner will have an impression that you have addressed all aspects of question.

      * In Protectionism part, you should mention about Removal of India from GSP by US. (within few words, since the Question is directly about its impact on India)

      * In Currency Manipulation part, you should mention about recent currency manipulations done by China (within few words, since the Question is directly about its impact on India)

      * While writing about the effects of these phenomena on India, Write how it will effect Growth Rate, Employment Generation, Impact on Industries, Impact on Exports Inflation, CAD etc. These are keywords and your answer should contain these terms.

      * Mentioning Covid19 is appreciated and it will give a current affairs perspective to the answer.

      * Keep practicing. Try to improve on Content and Structure of the Answer

      Thanks

    • * Good Introduction.

      * The answer is structured as you have written the main body under separate sub headings.

      * In Protectionism part, you should mention about Removal of India from GSP by US. (within few words, since the Question is directly about its impact on India)

      * In Currency Manipulation part, you should mention about recent currency manipulations done by China (within few words, since the Question is directly about its impact on India)

      * While writing about the effects of these phenomenas on India, Write how it will effect Growth Rate, Employment Generation, Impact on Industries, Impact on Exports Inflation, CAD etc. These are keywords and your answer should contain these terms.

      * You have written some good points. But for a 150 words question, you need to add more content in the main body.

      * Question is ‘How it will affect’? So, you can’t simply write Inflation. You should explain it. This is applicable for all points you have written.

      * Conclusion is too big. Write Conclusion in 2-3 lines. Here, you have taken same space for main body and conclusion. Try to avoid it.

      * Keep practicing.

      Thanks

      • * Good Introduction

        * Well Structured and you have correctly addressed the demand of the question.

        * Main body is also good. You have mentioned majority of the points.

        * You have not mentioned about ‘Inflation’. It’s an important point. Missing key terms will reduce your mark.

        * Underline only important points. In Page 4, you have underlined majority of the words. It fails the very purpose of underlining.

        * Conclusion is too big. Try to limit the Conclusion within 2-3 lines

        * Writing the answer within word limit is very very important in Mains Exam. Here you have crossed the limit. Try to Correct it. Without sticking to word limit, you will not get time to attempt all questions in the exam.

        * Keep practicing.

        Thanks

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